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Welcome to a review of our markets and all of their possibilities. We recommend a visit to About Us in advance where we reviewed the historical development as well as the unique features and potential of our Mini-Infuser™.As has been noted earlier, the therapeutic possibilities awaiting us are deep and far reaching. Therefore, it comes as no surprise that analysts in December 2013 at Roots Analysis* called the growing possibilities for the portable infusion market in general “The Next Billion Dollar Opportunity”. In fact, it’s seen as potentially the largest and arguably fastest growing sector of the 12 billion dollar market for injectable drug delivery systems, reaching 8 billion dollars within a decade.* Roots Analysis, Wearable Bolus Injectors- The Next Big Thing in Drug Delivery, 2013. However, at this present time, this promising field described above by Roots Analysis is dominated by inferior infusion products
The Market’s Search for an Alternative
There is a significant unfulfilled demand for new therapeutic options to lower the cost and increase the safety of the infusion market yet there are currently no fully programmable, disposable, electronic infusion pumps serving the inpatient pain market.
We are confident that the Mini-Infuser™ will be uniquely equipped to meet these demands. In fact, its design and function have already won it prestigious awards where one took note of its “elegant simplicity” as well as flexibility and accuracy as it administers even the tiniest of product volumes.
We see our most relevant potential in licensing our product to Pharmaceutical/Biotech companies involved in the manufacture of medications for just an example of the following therapeutic markets.
> Pre/post-surgical and chronic pain
> Anticoagulant therapy
> Diabetic insulin therapy
> Chronic heart failure (CHF) therapy
> Endocrine therapies
> Fertility drugs
We also see a significant relevance for the Mini-Infuser™ in the following therapeutic centers (and the experts below agree).
Hospitals
Hospitals are in search of ways to improve patient safety, increase efficiency, and lower costs, all of which the Mini-Infuser™ can provide. See Patient Safety for more information.
Regarding costs, here is some relevant information:
400 Bed Hospital ROI Estimate for Mini-Infuser™ Pain Pump
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Cost/Benefit Assumptions
> 400 bed hospital
> 15% medications administered are injectable narcotics
> 25 cartridges are eliminated by one Mini-Infuser™ Pump
> 50% injection cases convert to Mini-Infuser™ Pump – 8,760 pumps/year
> $100 cost for Mini-Infuser™ Pump
> $1.50 for C-II cartridge
> $15 cost for 25 mL volume 50mg/mL morphine for Mini-Infuser™ Pump
> Labor: $50 pharmacist, $15 technician, $60 nurse (per hour)
> Time required for cartridge filling, dispensing and narcotic administration
> Save 11.5 minutes per dose using Mini-Infuser™ Pump
> Medication errors
> 19% medications administered in error, 1.33% serious = 0.25% of all medications in serious error
> 1.88 patient days added per error, $600/day variable hospital cost
> 1,107 narcotic analgesic serious error/year, adding 2,081 patient days
Taking into account the cost benefit assumptions listed, this outlines the Mini-Infuser™ cost savings.
In addition, the Mini-Infuser™ will also be particularly useful for the Pediatric and Neonatal Medicine.
Hospice
Hospice care is the treatment of terminally ill patients and often involves the management of pain associated with the terminal disease or condition.
Care is provided at:
> Hospital
> Long Term Care Facility (for both non terminal and terminal patients)
> Residential Hospice Facilities (terminal patients only)
> In-Home (visiting nurses or care attendants travel to the patient)
The Mini-Infuser™ may provide the most help to the In-Home patient. It can be programmed to provide pain relief for several days before the next visit of the medical staff. This will free up nursing staffs from expensive, time consuming capital intensive devices such as PCA’s (Patient Controlled Analgesia).